REPORT TO THE CITY COUNCIL August 28, 2014 FROM: GARY WATAHIRA, Purchasing Manager Finance Department SUBJECT ..Title Reject all proposals responding to City's Request for Qualification for Asset Management Services for Management of City Real Estate Assets - Bid File 060614 (Citywide) ..Body RECOMMENDATION The City Manager's Office recommends the City Council reject all proposals received for asset management services for management of City real estate assets. EXECUTIVE SUMMARY The City Manager's Office solicited and received proposals in June 2014 for asset management services for the management of City real estate assets. One response was received. During the bid evaluation process it was determined that additional responses to the Request for Qualification (RFQ) would be desirable. It was anticipated that rejecting all bids and reissuing the RFQ with additional time for potential responders to respond and more widespread distribution would likely yield additional responses. BACKGROUND On March 6, 2014, the City Council passed the Asset Management Act (the "Act"), which requires, in part, that the City retain a qualified brokerage firm to manage City real estate assets. Pursuant to the Act's requirements, the City Manager's Office issued the RFQ seeking to retain the services of a qualified real estate brokerage firm to assist the City with the overall management of the City's real estate assets. The RFQ was advertised as follows: (1) published on the City's website on June 6, 2014; (2) published in the Business Journal; and (3) distributed to potential proposers. Only one sealed response was received and opened in a public bid opening on or about July 11, 2014. During the bid evaluation, it was determined that additional bids would be desirable for the City to make its best choice. Accordingly, it was decided that rejecting all bids and reissuing the RFQ with additional time for potential responders to respond and more widespread distribution would likely yield additional responses. ENVIRONMENTAL FINDINGS N/A LOCAL PREFERENCE N/A FISCAL IMPACT There is no impact to the General Fund as the recommendation is to reject all bids.